BRITISH PREFERENCES

Hokitika Guardian, 22 November 1930, Page 5

BRITISH PREFERENCES

GOVERNMENT’S UNDERTAKING

(United Press Association—By ElectricTelegraph.—Copyright.)

LONDON, November 21

In the House of Commons, in answer to an inquiry as to whether the British undertaking at the Imperial Conference to maintain / the existing preferences for three years applied to the McKenna safeguarding of silk and key industry duties, the Chancellor of the Exchequer, Mr Phillip Snowden, said that the British declaration applied to all of the existing duties, bu+ the obligation was governed by the existing law in relation to the duration of the duties, and also by Parliament’s right to fix the budget yeailv. Mr Shakespeare asked: “Seeing that the margin of preference under the McKenna duties is eleven per cent., will you be precluded from reducing them below eleven per cent?” Mr Snowden replied: “Sb-long as we maintain the margin of eleven per cent, between the duties on the foreign and the Empire products.” Mr Arnery: “Are you entitled to abolish the McKenna duties altogether?”

MV Snowden replied that that question did not arise. Mr Amerv: “Doesn’t the Imperial Conference undertaking mean that the Government pledges that, unless oveiridden by Parliament, it shall maintain every duty carrying preference.”

Mr Snowden sa d that there were several conditions to '.he declaration “It is subject,” he said, “to Avhat might be. done at the Ottawa confeienee, and also to Parliament’s right to deal with duties. Subject to these conditions, there is an obligation to maintain the existing preferences.